Home REIT's delayed 2023 results reveal extent of loan agreements and risk management limit breach

Borrowing policy cap 35%

Social housing investment trust Home REIT has revealed the extent to which it breached its risk management limit and loan agreements during the six months ended 28 February 2023.

In its long-awaited half-year results, released today (4 April), the trust said its loan-to-value ratio (LTV) as at 28 February 2023 was 59.1%, despite the fact that the group's borrowing policy cap was 35% and it had total loan covenants of 50%.  In January, Home published its long overdue results for the year to 31 August 2023, more than two years after it was suspended from trading on the London Stock Exchange after the REIT missed the deadline to publish its 2022 results.  Home REIT's overdue 2023 results show continued losses as board members depart The Financial Conduct Autho...